Newspaper group Trinity Mirror announced today that it will put its sports division including the Racing Post up for sale, as well as regional titles in the Midlands, London and the South East.

The decision follows a strategic review by NM Rothschild prompted by weak advertising revenues and declining circulation.

Trinity Mirror will now focus on its national papers such as the Daily Mirror, regional titles in Scotland, Wales and the North of England, and digital assets, which include online recruitment and property websites. 

It predicts that the new strategy will deliver additional annualised cost savings of £20 million by 2008.

The titles to be sold reported aggregate sales of £132m for the 26 weeks to 2nd July 2006, with EBIT of £27m. The sports division is also the only operation where advertising revenues actually increased year-on-year for the five months to November 2006. 

Sly Bailey, chief executive, commented: “The proposed disposals will enable us to concentrate on the heart of the group and adopt a new, technology-led operating model that will ensure we serve our advertisers and readers better from a significantly lower cost base. The new integrated model will allow Trinity Mirror plc to develop as a multi-platform media business and capitalise on the enormous strengths we have in our core markets.”